Other OTC:TBTC
Table Trac Announces Second Quarter 2022 Results
MINNETONKA, Minn., Aug. 11, 2022 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the quarter ending June 30, 2022.
The 10-Q can be found @ http://www.sec.gov
Second Quarter Highlights
- The Company installed six systems at new locations, increased the number games at a current customer and our distributors expanded current locations and installed our system in over 40 new locations during the quarter.
- The Company installed a record number of games during Q2 2022
- The Company had seven customer contracts and one current customer expansion in backlog as of June 30, 2022 that are scheduled for installation before the end of the year.
Financial Results
Revenue for the second quarter of 2022 was $2,459,014 compared to revenue of $1,447,046 in 2021, an increase of approximately $1,012,000.
As of June 30, 2021 the company had a balance of $1,525,391, as a result of contract installations, which did not meet the revenue recognition collectability criterion. Based on management’s collectability review, this amount was not included in accounts receivable and revenue was only recognized as payments were received. During Q1 of 2022, based on management’s ongoing collectability assessment, $1,079,000 of this balance was determined to be collectable and was subsequently reported as revenue and included into accounts receivable. During the three months ended June 30, 2022, $2,829,200 for systems installed under contract have not been recorded as revenue or included in accounts receivable based on the collectability assessment performed by the Company. A change in the collectability assessment in a future period may allow the Company to recognize revenue prior to collecting cash.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended June 30, 2022 and 2021:
| For the Three Months Ended | |||||||
| June 30, | |||||||
| 2022 | 2021 | ||||||
| Basic and diluted earnings per share calculation: | |||||||
| Net income to common stockholders | $ | (242,324 | ) | $ | 153,635 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,511,988 | |||||
| Basic net income per share | $ | (0.05 | ) | $ | 0.03 | ||
| Weighted average number of common shares outstanding – diluted | 4,521,988 | 4,522,075 | |||||
| Diluted net income per share | $ | (0.05 | ) | $ | 0.03 | ||
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the six months ended June 30, 2022 and 2021:
| For the Six Months Ended | ||||||
| June 30, | ||||||
| 2022 | 2021 | |||||
| Basic and diluted earnings per share calculation: | ||||||
| Net income to common stockholders | $ | 1,019,516 | $ | 769,641 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,506,361 | ||||
| Basic net income per share | $ | 0.23 | $ | 0.17 | ||
| Weighted average number of common shares outstanding – diluted | 4,548,449 | 4,521,711 | ||||
| Diluted net income per share | $ | 0.22 | $ | 0.17 | ||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as Australia and the Caribbean. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Robert Siqveland
Table Trac, Inc.
952-548-8877
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MINNETONKA, Minn., Nov. 14, 2024 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the three and nine months ending September 30, 2024.
The 10-Q can be found @ http://www.sec.gov
Third Quarter 2024 Highlights
- The Company installed two systems.
- The Company had five installations in backlog as of September 30, 2024. The company anticipates that the majority of these contracts will be installed in the fourth quarter. As of the filing date of this report, the Company has signed one new contract.
Financial Results
Total revenue for the nine months ending September 30, 2024, was $8M compared to $6.6M in 2023, an increase of approximately 22%.
Gross profit for the three months ending was $1.8M as compared to $1.4M in 2023.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended September 30, 2024 and 2023:
| For the Three Months Ended | ||||||||
| September 30, | ||||||||
| 2024 |
2023 |
|||||||
| Basic and diluted earnings per share calculation: | ||||||||
| Net income | $ | 292,379 | $ | 171,988 | ||||
| Weighted average number of common shares outstanding – basic | 4,575,068 | 4,552,988 | ||||||
| Basic net income per share | $ | 0.06 | $ | 0.04 | ||||
| Weighted average number of common shares outstanding – diluted | 4,622,938 | 4,606,488 | ||||||
| Diluted net income per share | $ | 0.06 | $ | 0.04 | ||||
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the nine months ended September 30, 2024 and 2023:
| For the nine Months Ended | ||||||||
| September 30, | ||||||||
| 2024 |
2023 |
|||||||
| Basic and diluted earnings per share calculation: | ||||||||
| Net income to common stockholders | $ | 1,110,610 | $ | 1,079,239 | ||||
| Weighted average number of common shares outstanding – basic | 4,575,068 | 4,552,481 | ||||||
| Basic net income per share | $ | 0.24 | $ | 0.24 | ||||
| Weighted average number of common shares outstanding – diluted | 4,621,840 | 4,610,786 | ||||||
| Diluted net income per share | $ | 0.24 | $ | 0.23 | ||||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable, and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions, and provide vault and cage controls. The Company’s systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry.
Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables.
The Company’s suite of management systems and kiosks are installed with on-going support and maintenance contracts in over 115 casino operators in over 300 casinos worldwide. The Company continues to increase its market share by expanding its product offerings to include new system features, and ancillary products. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Randy Gilbert, CFO
Table Trac, Inc.
952-548-8877
MINNETONKA, Minn., Nov. 08, 2024 (GLOBE NEWSWIRE) — On November 8, 2024, The Board of Directors of Table Trac Inc. (the “Company”) (OTCQX: TBTC) approved a cash dividend on the Company’s common stock of $0.01 per share. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as Australia and the Caribbean. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
CONTACT: For more information: Randy Gilbert Table Trac, Inc. 952-548-8877
MINNETONKA, Minn., Oct. 03, 2024 (GLOBE NEWSWIRE) — On October 3, 2024, The Board of Directors of Table Trac Inc. (the “Company”) (OTCQX: TBTC) the producer of CasinoTrac, a Secure, Unified and Stable Casino Management system, approved the addition of Andrew T. Berger to its Board of Directors.
“We are very pleased and excited to have Andrew join our Board of Directors” commented Chad Hoehne, President and CEO of Table Trac, Inc.
Mr. Berger has served as a director of Autoscope Technologies Corporation (and/or its predecessor subsidiary Image Sensing Systems Inc.) since October 2015 and as its Executive Chair since June 2016. He was also its CEO from April 2021 to November 2022. Mr. Berger was appointed Chief Executive Officer of Tuesday Morning Corporation, an off-price retailer of home goods and décor from November 2022 through May 2023, where he assisted in the sale of its assets to Hilco. In 2024, Mr. Berger acquired the IP of Tuesday Morning and relaunched its digital operations. Mr. Berger is currently the Managing Member of AB Value Management LLC, which serves as the General Partner of AB Value Partners, LP., an investment partnership. In addition, Mr. Berger provides business consultancy services through Walker’s Manual, Inc., served as an equity analyst for Value Line, Inc., was the Chief Executive Officer of Cosi, a fast-causal restaurant chain, and served on the board of directors of Rocky Mountain Chocolate Factory, Inc., an international franchisor and confectionery manufacturer.
“I look forward to the opportunity to be a member of the Table Trac Board. I believe it is a great time to join the Table Trac team, and I am excited to contribute to the expansion and growth of their business,” commented Mr. Berger.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino management systems and software. CasinoTrac CMS is operational in more than 300 casinos and 41 Native American tribes across 13 countries, including the United States, Central and South America, the Caribbean, and Australia. More information is available at https://www.casinotrac.com/.
CONTACT: For more information: Randy Gilbert Table Trac, Inc. 952-548-8877
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